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What's Happening in China's Tech Community?
The Chinese government seems to be cracking down on consumer tech companies. They've called video games spiritual opium, but at the same time they're pairing that strategy of smashing their internet software companies with a strategy that seems to elevate a national industrial policy. So I think there is an element of a push to redirect capital towards more tangibly productive things which fit into the broader strategic goals of the Communist Party around things like semiconductors.